NEW YORK, June 23, 2022 /PRNewswire/ -- The Hazardous Waste Management Market is segmented by geography (APAC, Europe, North America, South America, and MEA). 65% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for hazardous waste management market in APAC. Market growth in this region will be faster than the growth of the market in regions. The increasing infrastructure development projects will facilitate the hazardous waste management market growth in APAC over the forecast period. Moreover, the Hazardous Waste Management Market value is set to grow by 190.88 million MTPA, progressing at a CAGR of 8.13% from 2020 to 2025, as per the latest report by Technavio.
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Hazardous Waste Management Market: Key Driver
The increase in industrial activities is a major factor driving the global hazardous waste management market share growth. Owing to the increase in consumer spending, the demand for consumer electronics and automobiles has increased globally. Economic development has strengthened the confidence of consumers, leading them to purchase more goods, thus increasing industrial activities. High buyer confidence has resulted in increased production and sales of automobiles. Thus, the increased industrial activities result in the production of more wastes. Moreover, the adoption of waste management by the automobile industry has increased because increased demand for raw materials might lead to their depletion. Consequently, measures are being taken to use the materials judiciously and manage the wastes efficiently. Therefore, such growth in industrial activities is expected to drive the global hazardous waste management market during the forecast period, with APAC at the forefront.
Hazardous Waste Management Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 8.13%
Market growth 2021-2025
190.88 mn MTPA
YoY growth (%)
APAC, Europe, North America, South America, and MEA
Performing market contribution
APAC at 65%
Key consumer countries
China, US, Germany, Japan, and Turkey
Leading companies, competitive strategies, consumer engagement scope
Avalon Holdings Corp., Averda, Clean Harbors Inc., Daniels Health, ENVIRON INDIA, Grupo Tradebe Medioambiente SL, Republic Services Inc., SECHE ENVIRONNEMENT Group, VEOLIA ENVIRONNEMENT SA, and Waste Management Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
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Hazardous Waste Management Market: Segmentation Analysis & Forecasts
The market is segmented by application (industrial, medical, and others). The hazardous waste management market share growth by the industrial segment will be significant during the forecast period. Industrial accounts for the largest hazardous waste management market share in the application segment. Industrial waste is generated in any industrial activity and exhibits the properties of hazardous waste. The industrial hazardous wastes comprise of by-products of manufacturing processes or discarded commercial items such as cleaning fluids, nonferrous, and other metals resulting from iron and steel mills, petroleum and coal manufacturing, and other similar facilities. Hence, for efficient management of such hazardous wastes, agencies such as The United States Environmental Protection Agency (US EPA) provide guidelines to help the potentially hazardous waste generators identify if they produce hazardous waste. Hence, the global hazardous waste management market by the industrial application will exhibit a fast growth rate during the forecast period.
The Market Covers the Following Areas:
Hazardous Waste Management Market: Major Challenge
The high cost involved in hazardous waste management will be a major challenge for the global hazardous waste management market share growth during the forecast period. The potential risk of hazardous wastes depends on their volume, characteristics, and the way the wastes are disposed of and treated. For instance, it is a common practice in hospitals where the staff dumps all the waste items in regulated medical waste containers. Thus, the segregation of wastes adds to the handling and disposal costs. The disposal cost of medical wastes is 22 times greater than the disposal of regular trash. With stringent regulations coming up pertaining to the efficient management of hazardous wastes, new processes, technologies, and techniques have been adopted by the service providers. Such stringent requirements lead to an increase in complexities and higher costs of treatment. Therefore, customers availing the hazardous waste management services must bear high treatment costs, and service providers must fulfill the closure and maintenance requirements. This increases the costs borne by all the entities across the supply chain, which can pose a challenge to market growth.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
Avalon Holdings Corp.
Clean Harbors Inc.
Grupo Tradebe Medioambiente SL
Republic Services Inc.
SECHE ENVIRONNEMENT Group
VEOLIA ENVIRONNEMENT SA
Waste Management Inc.
The hazardous waste management market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
2.1 Market ecosystem
2.2 Value chain analysis
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2020
3.4 Market outlook: Forecast for 2020 - 2025
4 Five Forces Analysis
4.1 Five Forces Summary
4.2 Bargaining power of buyers
4.3 Bargaining power of suppliers
4.4 Threat of new entrants
4.5 Threat of substitutes
4.6 Threat of rivalry
4.7 Market condition
5 Market Segmentation by Application
5.1 Market segments
5.2 Comparison by Application by volume
5.3 Industrial - Market size and forecast 2020-2025 (million MTPA)
5.4 Medical - Market size and forecast 2020-2025 million MTPA)
5.5 Others - Market size and forecast 2020-2025 million MTPA)
5.6 Market opportunity by Application by volume
5.7 COVID-19 impact and recovery for application segment
6 Customer landscape
7 Geographic Landscape
7.1 Geographic segmentation
7.2 Geographic comparison
7.3 APAC - Market size and forecast 2020-2025
7.4 Europe - Market size and forecast 2020-2025
7.5 North America - Market size and forecast 2020-2025
7.6 South America - Market size and forecast 2020-2025
7.7 MEA - Market size and forecast 2020-2025
7.8 Key leading countries
7.9 Market opportunity by geography
8 Drivers, Challenges, and Trends
8.1 Volume drivers – Demand led growth
8.2 Market challenges
8.3 Market trends
9 Vendor Landscape
9.2 Vendor landscape
9.3 Landscape disruption
10 Vendor Analysis
10.1 Vendors covered
10.2 Market positioning of vendors
10.3 Avalon Holdings Corp.
10.5 Clean Harbors Inc.
10.6 Daniels Health
10.7 ENVIRON INDIA
10.8 Grupo Tradebe Medioambiente SL
10.9 Republic Services Inc.
10.10 SECHE ENVIRONNEMENT Group
10.11 VEOLIA ENVIRONNEMENT SA
10.12 Waste Management Inc.
11.1 Scope of the report
11.2 Currency conversion rates for US$
11.3 Research methodology
11.4 List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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